Are there safe havens in a volatile market? Two investment strategists say yes. Jeff Krumpelman, Sr. Portfolio Manager at Fifth Third Asset Management, and George Foley, First Vice President and Portfolio Manager at Glenmede Large Cap Value Fund, offered “Power Lunch” viewers their sector and stock picks.
Krumpelman told CNBC’s Sue Herera that he would avoid homebuilders and firms with direct involvement in subprime lending. Instead, he recommends “high-quality” growth stocks, especially those with dividend payouts--a show of confidence in the company’s strength. He likes Altria, Charles Schwab and Microchip Technology.